HVAC filters market to accrue remarkable proceeds from pharmaceutical applications, global valuation to exceed US$13 bn by 2024
Publisher : Fractovia | Published Date : 2018-12-31Request Sample
Growing mindfulness of the air quality among residential and commercial consumers has strengthened the HVAC filters market in the recent years. Keeping the air clean and upholding suitable levels of air circulation in homes, manufacturing plants and storage facilities are important activities needed to eliminate the toxicity in air, maintaining the overall health of indoor environment. Rising prevalence of diseases worldwide and the increasing need for pharmaceutical products will enormously boost the HVAC filters industry in the imminent future, since a controlled environment is crucial for drug manufacturing, storing and pharmaceutical R&D.
Germany HVAC Filters Market Size, By Product, 2017 & 2024, (Million Units)
The pharmaceutical industry deploys HVAC systems for various heating and cooling applications related to the development of drugs, as well as to ensure the air is safe for people who work at the R&D labs or production facilities. Filters are essential in cleaning the air during intake or outflow process and also need to be changed at regular intervals, probably six to twelve months depending on use and condition. It was estimated that between 2017 and 2030, the global pharmaceutical segment would grow by almost 160%, indicating massive prospects for the installation of HVAC systems and subsequently for the expansion of the HVAC filters market.
Regional overview of the growth potential for global HVAC filters market with respect to the booming pharmaceutical industry
With the pharmaceutical sector developing at an unparallel speed, companies are undertaking construction of new facilities and expansion of existing operations. One can comprehend the vast potential for the growth of the HVAC filters industry by observing some efforts made by leading and emerging pharmaceutical players across every region. An effective HVAC system has become a prerequisite for warranting the hygiene and temperature conditions ideal for the performance of active ingredients and agents. As infrastructure in the pharmaceutical segment expands, the necessity of providing highly pure air for sensitive processes and clean rooms will fuel the HVAC filters market.
The United States
The world’s leading influenza prevention vaccine provider Seqirus had recently disclosed its intentions of expanding the firm’s plant located at Holly Springs in North Carolina, U.S. The USD 140 million investment will help the company grow its capacity for formulation, fill and finish manufacturing of influenza vaccines and the new facility is projected to open by 2020.
Japanese pharma company Astellas has also announced a total of USD 257 million in investment for new R&D manufacturing plants in U.S. and Japan. Being an ideal contender in the HVAC filters industry, its new, 24,000 square meters facility in Massachusetts is scheduled to be completed by January 2020 and would cost almost USD 123 million.
Europe
Moving to Europe, Egis has also decided to invest approx. USD 25 million in its Körmend facility in Hungary, to enhance the capacity and begin production of various pharmaceuticals, including vital oncological products. Further, Russia’s Moscow Endocrine Plant is building a USD 89.5 million plant in the country’s the Bryansk region to produce active pharmaceutical ingredients
The massive facility will begin producing around 2020-2021 and represents significant demand that could be generated for the HVAC filters industry over the next few years.
Asia-Pacific
The investment plans of Japan’s Astellas also include constructing two new facilities in the country, at Toyama and Tsukuba, to be built at a cost of about USD 90 million and USD 44 million respectively. The facilities will be completed and will start operations from 2019, signifying the consistent performance of the pharmaceutical sector in the region and the likely proliferation of the HVAC filters market.
The hugely populated region experiences a large number of diseases and unhealthy consumption habits have made the occurrence of disorders like diabetes, obesity and cancers more common.
South Africa
Durban-based pharmaceutical company Aspen had also recently confirmed that it would be investing up to USD 233 million into its manufacturing facility in Port Elizabeth. Considered to be one of the biggest single investment in the South Africa’s pharmaceutical sector, the investment will be directed towards enhancing the company’s sterile anesthetics production capacity.
With business operations across several regions such as Sub-Saharan Africa, China, Latin America and others, Aspen’s expansion activities could demonstrate the presence worldwide opportunities for the growth of pharmaceutical sector.
Anticipated to surpass USD 13 billion valuation by 2024 worldwide, the HVAC filters market is impacted by rigorous government rules and mandates focused on the use of different refrigerants, driving companies to pursue innovations in heating, cooling and air conditioning technologies. AAF, Camfil, Dafco Filtration Group, Emirates Industrial Filters, Filtration Group, Freudenberg & Co. and Koch Filter are some prominent names comprising the HVAC filters industry landscape.
